What can you tell me about having my rv repossessed?

Answer by  patti (29325)

If you purchased an RV through a financing agreement and failed to meet the obligations of the contract, the RV can be repossessed by the party that holds the lien. That party can sell the RV in an attempt to recover. You can be held responsible for any shortfall. The repossession is reported to your credit.

Answer by  MsLaw (63)

If you are behind in your payments your RV can be repossessed anytime and place the repossessing agent can locate it. They don't need a key because they tow it.

Answer by  Zaka (2315)

Recreational vehicles are a difficult thing to take back. You can move it frequently because it is a vehicle and you can live in it as well which means you do not need to return to a fixed address. You can elude would be debt collectors indefinitely simply by driving and staying at different locations.

Answer by  joseph58 (6)

The bank has taken your RV and unless you can come with a repayment plan, you will not be able to get your RV returned. Your RV is now totally owned by the bank. Of Course, the bank was only allowing you to use the RV.